New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 14, 2014
12:26 EDTEW, ENH, TWTR, NQ, WBMD, AHL, C, MDT, GDP, FBOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after a bigger than expected increase in retail sales, along with better than expected headline profits at Citigroup (C), lent some confidence to buyers at the start of a holiday-shortened week of trading. The retail data, which showed sales notched their largest gain in 1.5 years in March, added to a recent string of better than expected domestic economic reports. However, today's data was followed by an upward move in the major averages, which had not been the case in some recent trading sessions. ECONOMIC EVENTS: In the U.S., retail sales climbed 1.1% in March, beating expectations for an increase of 0.8%. Retail sales excluding autos rose 0.7%, which also beat estimates. Business inventories grew 0.4% in February, versus the consensus forecast for a 0.5% gain. In Europe, the EU's statistics agency said industrial production across the 18 countries that share the euro rose by 0.2% in February from the prior month and by 1.7% from the same month of the prior year. COMPANY NEWS: Shares of Citigroup advanced more than 4% after the company's first quarter earnings, excluding one-time items and accounting adjustments, of $1.30 per share easily beat the consensus $1.14 per share forecast. CEO Michael Corbat said the company delivered strong results despite a quarter "that was difficult," noting that the bank reduced its deferred tax assets more than any other quarter since the crisis and drove Citi Holdings closer to break even. Prior to today's good news, the bank had been in focus for a number of negative headlines during the quarter, including its disclosure of fraud in its Mexican unit and the Federal Reserve objecting to its capital return plans... Twitter (TWTR) shares rose over 3% after the company disclosed that its co-founders, Jack Dorsey and Evan Williams, and its CEO, Richard Costolo, have informed the company that they have no current plans to sell any of their shares as a lockup of the stock approaches on May 5. Social network peer Facebook (FB) also gained more than 1.5% after news reports from Europe said the company is close to obtaining Irish regulatory approval to provide financial services such as electronic payments and exchanges with other members... Aspen Insurance (AHL) remained up 10% near noon despite the company rejecting the takeover offer that its peer in the insurance and reinsurance industry, Endurance Specialty (ENH), made public. Aspen said the "ill-conceived" $47.50 per share buyout offer made by Endurance represents a "strategic mismatch" and carries "significant execution risk." MAJOR MOVERS: Among the notable gainers was Goodrich Petroleum (GDP), which jumped 37% after the company reported strong results for a well it drilled in Louisiana. Also higher was WebMD (WBMD), which advanced 18% after advising it now expects its Q1 revenue to be at the high end of the range the company previously provided and for its adjusted EBITDA to beat the high end of its prior guidance. Among the noteworthy losers was Medtronic (MDT), which dropped 2% after its competitor, Edwards Lifesciences (EW), was granted a preliminary injunction limiting the sale of Medtronic's CoreValve system in the U.S. due to patent infringement. Edwards, which was upgraded at JPMorgan and CRT Capital following the court victory, gained 12%. Also lower again were shares of NQ Mobile (NQ), which slid another 5.8% as its post-earnings weakness continues. Short selling research firm Muddy Waters, which has previously alleged NQ to be a fraud, said the recently reported results indicate that the company's auditor has stepped up its scrutiny of the Chinese company. INDEXES: Near midday, the Dow was up 131.17, or 0.82%, to 16,157.92, the Nasdaq was up 40.19, or 1.0%, to 4,039.93, and the S&P 500 was up 15.84, or 0.87%, to 1,831.53.
News For C;TWTR;FB;AHL;ENH;GDP;WBMD;EW;MDT;NQ From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | all recent news | >>
April 8, 2015
11:17 EDTNQNQ Mobile jumps 7.5% to $4.00
10:01 EDTWBMDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Almost Family (AFAM) downgraded to Neutral from Outperform at Baird... Angie's List (ANGI) downgraded to Neutral from Buy at B. Riley... Annaly Capital (NLY) downgraded to Underperform from Market Perform at FBR Capital... Apple (AAPL) downgraded to Hold from Buy at Societe Generale... Calamos (CLMS) downgraded to Underperform from Market Perform at Keefe Bruyette... Catamaran (CTRX) downgraded to Hold from Buy at Argus... Cinemark (CNK) downgraded to Neutral from Buy at Janney Capital... Crestwood Equity (CEQP) downgraded at BofA/Merrill... Cummins (CMI) downgraded to Neutral from Buy at Goldman... Kinder Morgan (KMI) downgraded to Buy from Conviction Buy at Goldman... L'Oreal (LRLCY) downgraded to Neutral from Outperform at Exane BNP Paribas... NextEra Energy Partners (NEP) downgraded to Neutral from Buy at Goldman... Regal Entertainment (RGC) downgraded to Neutral from Buy at Janney Capital... Trina Solar (TSL) downgraded at BofA/Merrill... WebMD (WBMD) downgraded to Sell from Neutral at Goldman... Yingli Green Energy (YGE) downgraded at BofA/Merrill... Zep Inc. (ZEP) downgraded to Sell from Buy at Wunderlich.
09:35 EDTTWTRActive equity options trading on open
Subscribe for More Information
09:20 EDTWBMDOn The Fly: Pre-market Movers
Subscribe for More Information
08:42 EDTFBLivePerson should benefit from Facebook move, says Roth Capital
Subscribe for More Information
07:24 EDTMDTNeurotechnology Industry Organization to hold a conference
Subscribe for More Information
06:31 EDTTWTRTwitter April volatility at low end of range
Subscribe for More Information
06:12 EDTWBMDWebMD downgraded to Sell from Neutral at Goldman
Subscribe for More Information
April 7, 2015
16:00 EDTFB, COptions Update; April 7, 2015
Subscribe for More Information
12:42 EDTTWTRTwitter rises amid takeover rumors, prominent investor disclosing stake
Subscribe for More Information
12:06 EDTTWTRTwitter long position taken in early March, Dan Niles says
12:05 EDTTWTRNiles says does not own Twitter shares because of takeover potential
Subscribe for More Information
12:03 EDTTWTRDan Niles buying Twitter stock for first time
Subscribe for More Information
11:02 EDTCAmerican Express slips after analyst, columnist highlight challenges
Subscribe for More Information
10:11 EDTTWTRTwitter spikes higher, bullish patterns, levels to watch
Subscribe for More Information
10:09 EDTTWTRTwitter calls active on renewed takeover chatter
Twitter April weekly 52 and 54 calls are active on 20K contracts (2K puts) on renewed takeover chatter. April weekly call option implied volatility is at 46, April is at 40, May is at 56, June is at 46, September is at 42; compared to its 26-week average of 53 according to Track Data. Active call volume suggests traders taking positions for large price movement.
10:04 EDTTWTRRumor: Twitter moves up on renewed takeover chatter
Subscribe for More Information
09:35 EDTTWTRActive equity options trading on open
Subscribe for More Information
07:16 EDTCRising competition may make AmEx targets hard to achieve, WSJ says
Though American Express recently reaffirmed its long-term targets for growing revenue 8% per year or better and earnings per share by 12%-15% per year while increasing operating expenses by less than 3% per year, there are good reasons to be skeptical about its ability to hit those targets, according to The Wall Street Journal's "Heard on the Street" column. Competition from peer Visa (V) as well as big banks such as Citi (C) and Bank of America (BAC) may put pressure on AmEx’s margins and it is not safe to assume that the company will always fare as well on the Fed's stress tests as it just did, the report stated. Reference Link
06:00 EDTFB, TWTRTurkey restores access to YouTube, Twitter, Facebook, FT reports
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | 6 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use